Mkt452 Quiz Answers Essay

Market segmentation is where marketers split the market into groups with similarities that would make it easy to target their product to the consumers, if they

3. Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target them using media channels and other touchpoints that are best to

* Market segment: Group of consumers who respond in a similar way to a given set of marketing efforts.

Market segmentation refers to diverse customer groups the bank will arrange the service or products to meet their needs. The bank will gain income from offer service to meet their requirements:

1 One of the most critical steps in the defining process of market research is

2. Market segmentation is the process of dividing a market into distinct groups of buyers with

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

21. According to the text, for sports marketers engaged in the strategic sports marketing process, two common goals are attracting more fans and keeping them. Benefit segmentation lies at the heart of these two objectives.

The advertising of Nike by stores, who are not committed to only Nike, would fall into this category. For example, even though Foot Locker sells almost every athletic shoe there is, it features only Nike in many of its advertisements in magazines. Stage four, which is penetration, means that the product has successfully cornered an area of the market. As a result, other companies may try to market a replica of the product. Nike has definitely cornered the market in athletic apparel. Nike has created a power brand in the athletic market. Nike was the first shoe manufactuer to enter the clothing realm. "Nike raced ahead of the pack by exploiting its brand power to move from athletics footwear into athletics clothing, turning itself into a aymbol of fitness and well-being" (p. 24, Court). Other shoe manufactuers caught onto this trend and developed their own line of athletic clothing. The last stage of the model is distribution. The campaign needs to be able to deliver or live up to the promises made. In this final stage, the campaign succeeds and becomes institutionalized. The campaign must be able to give back to those who have supported it. Nike does this with rebates, coupons, and incentives for store owners. Nike also does not have a problem with replacing or reimbursing the consumer if there is a problem with their purchase.

The sporting franchise industry is highly competitive, and must remain competitive of emerging trends in technology, and consumers. Sports franchises monitor these trends in order to plan a strategy for marketing event tickets and advertisements. Moreover, there must obtain multiple sources of revenue in order to be successful.

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

They have a very clear strategy for the pursuit of their goal and vision. The market segmentation as well as the identification of target markets is the important element of each marketing strategy at which they are the basis for determining any particular of the marketing mix, which is product, pricing, place and promotion. Market segmentation reveals the company's market segment opportunities. The company has to evaluate the various segments and decide how many and which segments it can serve the best. In evaluating different market segments, a company must consider of three factors, that is, segment size and growth, segment structural attractiveness and also company’s objectives and resources. (Armstrong & Kotler, 2005)

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first